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Is Assa Abloy (ASAZY) Stock Outpacing Its Industrial Products Peers This Year?
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The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Assa Abloy AB (ASAZY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Assa Abloy AB is one of 187 companies in the Industrial Products group. The Industrial Products group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Assa Abloy AB is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ASAZY's full-year earnings has moved 5.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ASAZY has returned about 31.7% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 8%. This means that Assa Abloy AB is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Caterpillar (CAT - Free Report) . The stock is up 62.6% year-to-date.
Over the past three months, Caterpillar's consensus EPS estimate for the current year has increased 2.8%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Assa Abloy AB is a member of the Security and Safety Services industry, which includes 17 individual companies and currently sits at #39 in the Zacks Industry Rank. This group has gained an average of 17.8% so far this year, so ASAZY is performing better in this area.
Caterpillar, however, belongs to the Manufacturing - Construction and Mining industry. Currently, this 5-stock industry is ranked #174. The industry has moved +60.5% so far this year.
Investors with an interest in Industrial Products stocks should continue to track Assa Abloy AB and Caterpillar. These stocks will be looking to continue their solid performance.
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Is Assa Abloy (ASAZY) Stock Outpacing Its Industrial Products Peers This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Assa Abloy AB (ASAZY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Assa Abloy AB is one of 187 companies in the Industrial Products group. The Industrial Products group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Assa Abloy AB is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ASAZY's full-year earnings has moved 5.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ASAZY has returned about 31.7% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 8%. This means that Assa Abloy AB is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Caterpillar (CAT - Free Report) . The stock is up 62.6% year-to-date.
Over the past three months, Caterpillar's consensus EPS estimate for the current year has increased 2.8%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Assa Abloy AB is a member of the Security and Safety Services industry, which includes 17 individual companies and currently sits at #39 in the Zacks Industry Rank. This group has gained an average of 17.8% so far this year, so ASAZY is performing better in this area.
Caterpillar, however, belongs to the Manufacturing - Construction and Mining industry. Currently, this 5-stock industry is ranked #174. The industry has moved +60.5% so far this year.
Investors with an interest in Industrial Products stocks should continue to track Assa Abloy AB and Caterpillar. These stocks will be looking to continue their solid performance.